AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Dec. 22, 2016 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of November 30, 2016.

 

AllianceBernstein National Municipal Income Fund, Inc.









Top 10 Fixed-Income Holdings


Portfolio %

1) Metropolitan Transportation Authority  (Metropolitan Transportation Authority Ded Tax)  Series 2016A  5.25%, 11/15/35


2.43%

2) State of Connecticut Special Tax Revenue    Series 2012  5.00%, 1/01/29


2.30%

3) Massachusetts School Building Authority  (Massachusetts School Building Authority Sales Tax)  Series 2011B  5.00%, 10/15/32


2.16%

4) Los Angeles Department of Water & Power PWR    Series 2013B  5.00%, 7/01/30


1.69%

5) City of New York NY    Series 2012I  5.00%, 8/01/28


1.47%

6) Miami Beach Health Facilities Authority  (Mount Sinai Medical Center of Florida, Inc.)  Series 2014  5.00%, 11/15/39


1.46%

7) Wayne State University    Series 2009A  5.00%, 11/15/29


1.39%

8) Port Authority of New York & New Jersey    Series 2014-186  5.00%, 10/15/44


1.31%

9) Wayne State University    Series 2009A  5.00%, 11/15/29 (Prerefunded/ETM)


1.27%

10) Chicago O'Hare International Airport    Series 2016C  5.00%, 1/01/36


1.26%




Sector/Industry Breakdown


Portfolio %

Revenue



Toll Roads/Transit


10.81%

Health Care - Not-for-Profit


9.14%

Airport


8.59%

Water & Sewer


5.73%

Higher Education - Public


4.72%

Revenue - Miscellaneous


4.11%

Electric Utility


3.99%

Port


0.78%

Prepay Energy


0.70%

Higher Education - Private


0.57%

Primary/Secondary Ed. - Public


0.56%

Senior Living


0.42%

SUBTOTAL


50.12%

Tax Supported



Special Tax


19.25%

State G.O.


7.16%

Local G.O.


6.63%

Tax-Supported Local Lease


2.76%

Tax-Supported State Lease


2.59%

SUBTOTAL


38.39%

Prerefunded/ETM


9.36%

Note/VRDBs



Money Market


0.81%

SUBTOTAL


0.81%

Insured/Guaranteed



Guaranteed


0.78%

SUBTOTAL


0.78%

Cash Equivalents



Investment Companies


0.54%

SUBTOTAL


0.54%

Total


100.00%




State Breakdown


Portfolio %

New York


17.53%

California


15.95%

Texas


10.27%

Florida


6.91%

Illinois


6.46%

Connecticut


5.95%

Pennsylvania


5.55%

Michigan


5.45%

New Jersey


5.21%

Massachusetts


2.57%

Hawaii


1.73%

Washington


1.61%

Kentucky


1.38%

North Carolina


1.37%

Colorado


1.23%

Louisiana


1.17%

Tennessee


1.15%

Maryland


1.05%

District of Columbia


1.00%

Alabama


0.94%

Oregon


0.84%

Georgia


0.78%

South Carolina


0.78%

Arizona


0.70%

Indiana


0.44%

Minnesota


0.44%

Arkansas


0.31%

Missouri


0.31%

Oklahoma


0.27%

Wisconsin


0.11%

Other


0.54%

Total Investments


100.00%




Credit Quality Breakdown


Portfolio %

AAA


9.14%

AA


47.49%

A


19.99%

BBB


11.28%

BB


0.26%

B


0.29%

Not Rated


0.84%

Pre-refunded Bonds


9.36%

Short-Term Investments


1.35%

Total Investments


100.00%




Bonds By Maturity


Portfolio %

Less than 1 year


1.53%

1 to 5 years


1.38%

5 to 10 years


9.24%

10 to 20 years


69.16%

20 to 30 years


18.69%

More Than 30 years


0.00%

Other


0.00%

Total Investments


100.00%




Portfolio Statistics:



AMT Percent:


9.57%

Average Coupon:


5.26%

Percentage of Leverage:



Bank Borrowing:


0.00%

Investment Operations:


1.87%

Auction Preferred Shares (APS):


14.59%

Tender Option Bonds:


4.93%

Variable Rate MuniFund Term Preferred Shares (VMTPs):


22.34%

Total Fund Leverage:


43.73%*

Average Effective Maturity:


7.32  Years

Effective Duration:


5.57  Years

Total Net Assets:


$500.41 Million**

Common Stock Net Asset Value:


$14.20

Number of Holdings:


174

Portfolio Turnover:


24%




* The total percentage of leverage constitutes 4.93% through the use of tender option bonds, 14.59% in issued and outstanding APS, 22.34%  in issued and outstanding VMTPs and 1.87% in investment operations, which may include the use of certain portfolio management techniques such as credit default swaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued securities.




** Includes $92,125,000 of APS at liquidation value.The Fund also had outstanding $141,000,000 of VMTPs at liquidation value, which is not included in Total Net Assets because it is treated as a liability for financial reporting purposes.




The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P.




 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-releases-monthly-portfolio-update-300383180.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

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